Arrow nests in GPT’s Eagle

Leading coal seam gas company
Arrow Energy
has committed to
GPT Group
’s One One One Eagle Street tower in Brisbane in a deal valued at more than $100 million.

Arrow will take 14,800 square metres of space over eight years with a further 3000 sq m option in what is the largest premium office space deal on record for the city.

Chief executive Andrew Faulkner said that Arrow’s consolidation out of four separate Brisbane buildings would improve business efficiency and communication as the company moved towards a final investment decision on its major gas project.

“Leasing 10 floors with an option for a further three in Brisbane’s premier new commercial building will allow us to continue to grow with confidence," Mr Faulkner said.

Arrow will take floors 31 to 40 and move in next year – in the leasing deal foreshadowed by The Australian Financial Review – after vacating its existing premises at AM60 on Albert Street.

GPT chief executive
Michael Cameron
said that the company’s strategy to hold back a large amount of contiguous space in the tower had paid off.

“In early 2010 the Brisbane market began signalling a number of blue- chip companies would require more than 10,000 sq m of premium office space from around 2013," he said.

“We have always believed that the tower was the only solution for large, contiguous, quality space in Brisbane."